Dynamic Advisor Solutions LLC Takes $1.59 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Dynamic Advisor Solutions LLC bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,987 shares of the company's stock, valued at approximately $1,585,000.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after buying an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after buying an additional 332,307 shares during the last quarter. AQR Capital Management LLC raised its stake in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after buying an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares during the period. Finally, DnB Asset Management AS increased its holdings in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Institutional investors own 46.45% of the company's stock.

Insider Activity

In related news, insider Robert Schlossman sold 3,590 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the transaction, the insider now directly owns 100,230 shares of the company's stock, valued at $25,057,500. The trade was a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the transaction, the insider now directly owns 2,550,210 shares of the company's stock, valued at $767,332,686.90. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,488 shares of company stock valued at $53,719,658. 18.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZS. Stephens reissued an "overweight" rating and issued a $255.00 price objective on shares of Zscaler in a report on Tuesday, May 27th. Citigroup reissued a "buy" rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. FBN Securities raised Zscaler to a "strong-buy" rating in a report on Friday, May 30th. BMO Capital Markets raised their price objective on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, BTIG Research raised their price objective on Zscaler from $298.00 to $329.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $294.03.

Zscaler Stock Up 1.0%

ZS stock opened at $305.02 on Tuesday. The business has a fifty day moving average of $243.81 and a two-hundred day moving average of $213.51. The stock has a market cap of $47.49 billion, a price-to-earnings ratio of -1,220.08 and a beta of 1.09. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $309.19.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The company's revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.

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